Zimbabwe negotiates preferential trade accords with Angola, Iran

Zimbabwe is negotiating preferential trade agreements with Angola, Iran and Zambia as the government seeks to increase trade volumes and boost foreign currency inflows, a top official said on Friday.

"Once the rules of origin are met, our goods receive preferential treatment such as duty free, in the territories with whom we signed trade agreements," Industry and International Trade Minister Obert Mpofu said.

He said the disclosure at the second annual conference of the Shipping and Forwarding Agents Association of Zimbabwe (SFAAZ), whose theme was "Growing Zimbabwe's Economy Through International Trade."

The minister called on the business community to take advantage of existing bilateral trade agreements with other countries in the region to increase trade levels.

Zimbabwe has already signed agreements with various countries including Botswana, the Democratic Republic of the Congo, Malawi, Mozambique, Namibia and South Africa.

Zimbabwe is a member of the Southern African Development Community (SADC) and Common Market for East and Southern Africa ( COMESA), among others.

Analysts have, however, noted that the business community is failing to fully utilize these agreements for the economic benefit of the southern African country.

The minister noted that a vibrant freight-forwarding sector was critical to complement the government efforts in the enhancement of regional and international trade.

"If the shipping and forwarding industry ails, the whole economy ails, because there is lack of trust between the supplier of products and the consumer of the product far away," he said.

SFAAZ was a strategic partner in the country's economic turnaround program and played an important intermediary role in the collection of revenue by the government through payment of import duties and taxes, he said.

He called for the highest degree of efficiency and honesty on the part of freight forwarders, as unprofessionalism would be costly to the trader and the country.

SFAAZ is a representative body of shipping companies, freight forwarders, customs clearing agents and transporters.

Source: Xinhua